How a social enterprise saved 64% on finance costs

Our client

Operating since 2009, our client teaches film studies to adults with disabilities and people from marginalised communities, using filmmaking to shift attitudes towards the rights and contributions of people with disability.

With an annual turnover of AUD $5 million, they wanted accuracy, standardised processes, better data quality and cost savings from their finance function.

The challenges before Business Avengers

• Two part time finance resources in Sydney costing $150,000 pro rata.
• Senior management frustrated by the lack of timely, accurate information.
• No true and fair picture of the business to plan against.
• Forward planning was effectively impossible.

The solution

We assessed existing processes, systems, policies and stakeholder requirements, then over 60 days took over the full transactional workload: accounts payable, accounts receivable, payroll, bank, debit and credit card reconciliations, month end journals and production of the P&L and balance sheet.

The result

Where the client was spending $150,000 on part time resources, they now have 1.5 dedicated full time resources for $54,000. That is a 64% saving, worth $96,000 a year.

The quality of information has allowed them to put a one, three and five year business plan in place. They have been on board for more than twelve months.